Results of Retail Offer & Update on Broker Option

10 March 2025 - CleanTech Lithium (AIM: CTL), an innovative sustainable lithium developer, is pleased to announce the results of its retail offer to existing shareholders (the "Retail Offer"). The Retail Offer remains conditional on shareholder approval.

The Retail Offer raised gross proceeds of £143,980 which will be in addition to the £2.4 million raised pursuant to the Placing as announced 11th February 2025.

There was no take up under the Broker Option.

Results of the Retail Offer

899,873 new ordinary shares ("Retail Offer Shares") will be issued to existing retail shareholders who subscribed via the BookBuild platform at a price of 16 pence per Retail Offer Share (the "Issue Price") pursuant to the Retail Offer.

The Retail Offer Shares carry a warrant entitlement of one warrant ("Warrant") for every Retail Offer Share issued pursuant to the Retail offer. Each Warrant grants the holder the right to subscribe for one new ordinary share at a price of 11p, being approximately 31% per cent. below the Issue Price, at any time from 14 February 2026 until up to and including 14 February 2029.

A total of 899,873 Retail Offer Shares will therefore be issued pursuant to the Retail Offer representing approximately 0.9 per cent. of the Company's enlarged ordinary share capital following admission of the Retail Offer Shares to trading on AIM ("Admission").

The Issue Price represents approximately 41 per cent. premium to the closing price of 11.38 pence on 7 March 2025.

The Retail Offer Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the Retail Offer Shares.

As previously announced, the proceeds of the Retail Offer Shares will be used to reduce the balance outstanding of the Loan Notes taken out in late June 2024.

The Company also announces that no new ordinary shares will be issued pursuant to the Broker Option granted to Fox-Davies Capital Limited.

General Meeting and Posting of Circular

The Retail Offer is subject to shareholder approval at the general meeting of the Company, expected to be held on 24 March 2025 at 11:00AM (the "General Meeting"). The Company published a shareholder circular on the 4th March 2025 to convene the General Meeting, which is available on the Company's website https://ctlithium.com/investors/circulars-documents/.

Admission and Trading

Subject to approval being given at the General Meeting, application will be made to London Stock Exchange for the Retail Offer Shares to be admitted to trading on AIM. It is currently expected that Admission will become effective, and trading of the Retail Offer Shares will commence on AIM, at 8.00 a.m. on 25 March 2025.

Total voting rights

Following the issue and Retail Offer Shares, the Company will have a total of 100,346,774 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury and accordingly the total number of voting rights in the Company will be 100,346,774.

Words and expressions defined in the Company's announcements of 10 and 17 February 2025 shall have the same meaning in this announcement.

Steve Kesler, Executive Chairman of CleanTech Lithium, said:

"Thank you to the existing retail shareholders that have supported CleanTech Lithium in this recent fundraising, sharing our positive outlook for lithium demand and our confidence in our strategy for the Company.

Our key milestones over the next few months are completing the PFS for Laguna Verde, scaling battery-grade lithium carbonate production for strategic partners to test, and advancing the Special Lithium Operating Contract (CEOL) process with the Chilean Government. Alongside this, we are actively pursuing our dual listing on the ASX."

Expected Timetable of Principle Events

Notes